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GREATER BOSTON-The drop in the Federal interest rate will have a positive impact on the commercial real estate market here by making it easier to finance projects and by stabilizing the economy, according to local industry experts.
MENOMONEE FALLS, WS-The retailer plans to open more stores in its existing Midwest and Mid-Atlantic markets, plus enter new territory in Atlanta, Hartford/New Haven, CT and Arkansas.
SATSOP, WA-The station, along with a 50-mile pipeline to bring natural gas to the site from the Interstate 5 corridor, will be constructed at a cost of $250-million. It will replace a once-planned pair of nuclear plants envisioned by Energy Northwest for the area.
ATLANTA-An entire retail investment team moved from Ben Carter Associates to Trammell Crow Co. Access to Trammell's national and regional network was the motivating factor in the relocation, the four agents say.
CHICAGO-A $14.1-million mortgage allowed a joint venture to buy a 16-story office building at Wacker Drive and Dearborn Street, directly south of the Chicago River. They inherit a building 96% occupied.
DETROIT-The new designated areas will give businesses more tools to begin and continue development there. Boundaries of Renaissance Zones in Detroit as well as across the state were widened.
STAMFORD, CT-Teleglobe Inc., an overseas telecommunications company, has signed a lease for 11,193 sf of space at 1351 Washington Blvd., according to Colliers ABR Inc., which brokered the deal.
POINCIANA, FL-Avatar Properties Inc. of Coral Gables, FL wants to step up development at its 1,200-acre Poinciana Office & Industrial Park, 20 miles south of Downtown Orlando and 10 miles south of Walt Disney World. The company sold 25 acres valued at $2 million in 2000.
AUSTIN-The Finger Cos. has shelled out $5 million for 36.4 acres at Stratus Properties' Lantana project, with full intention of taking it to the maximum build-out. A 403-unit multifamily project will get under way in this year's second quarter, says a company exec.